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MyPlanIQ tracks detailed weekly country economic trend movement. We use ETFs that represent each geographic region and present the results here.

This is the third week of coverage. Major indices around the globe have rebounded as concerns over the Irish debt crisis have eased following Irish monetary officials agreeing to accept aid and China’s lower than expected increase in interest rate.

Description

Symbol

Nov 22 Trend Score

Direction

Nov 15 Trend Score

South Africa

EZA

18%

^

14%

Mexico

EWW

16%

^

12%

Hong Kong

EWH

14%

v

16%

South Korea

EWY

14%

^

10%

Malaysia

EWM

13%

^

11%

Singapore

EWS

13%

^

13%

Germany

EWG

12%

^

8%

Taiwan

EWT

11%

^

8%

Australia

EWA

11%

^

7%

Russia

RSX

10%

^

7%

Canada

EWC

10%

^

7%

India

INP

9%

v

12%

Austria

EWO

9%

^

5%

Brazil

EWZ

9%

^

5%

Switzerland

EWL

9%

^

6%

United Kingdom

EWU

9%

^

8%

Belgium

EWK

8%

^

5%

The Netherlands

EWN

8%

^

4%

Japan

EWJ

7%

^

4%

France

EWQ

7%

^

4%

China

FXI

5%

v

6%

Italy

EWI

3%

^

1%

Spain

EWP

0%

^

-1%



Top Five

(Click to enlarge)

Amidst global rebalancing, with the world recovery being led by emerging economies, strong growth momentum is seen in export-driven countries with substantial exposure to China and the rest of emerging markets.

Despite struggling domestic manufacturing and fragile recovery, Africa’s biggest economy continues to see its shares increase in value. Economist predict that if the outcome for third quarter GDP is lower than expectation, this would support a rate cut.

At the same time, the IMF warned that it sees growing risks of a property bubble in Hong Kong. The IMF is concerned that if property prices continue to rise at around 20% a year, it would create a disruptive scenario when the economy slows down. As a result, Hong Kong shares declined on likely government measures to cool real estate prices.


Bottom Five

(Click to enlarge)

The countries at the bottom of the list reacted in a cluster, as investors seemed more confident that an agreement between EU and Ireland is imminent, with the exception of China. The mainland Chinese benchmark finished with a loss of 3 percent for a week characterized by fretting over any ham-handed government interference and attempts to cool activity in China.

In conclusion, although Ireland agreed to accept a rescue package, there still remains skepticism regarding the containment of the crisis. The full results of the Irish debt crisis still remain to be seen in the weeks ahead.

Disclosure: No positions

Source: Some Countries Rebound in Wake of Irish Bailout, Some Do Not